Agency
In Louisiana, a licensee who represents a seller in a listing agreement and also has a buyer client interested in that same property must:
AAutomatically terminate one of the agency relationships
BDisclose the potential dual agency to both parties and obtain written consent before proceeding✓ Correct
COnly represent the seller since they were the first client
DRefer the buyer to another agent without disclosure
Explanation
Louisiana law requires that when a dual agency situation arises, the licensee must disclose the potential conflict to both the seller and buyer, explain the implications, and obtain written consent from both parties before proceeding as a dual agent.
Related Louisiana Agency Questions
- Which of the following best describes a 'designated agency' arrangement in Louisiana?
- Under Louisiana's dual agency disclosure requirements, a transaction broker (intermediary) must:
- An agent who discloses the seller's minimum acceptable price to the buyer without authorization has violated which fiduciary duty?
- An agent who earns a referral fee from a home warranty company without disclosing this to the client is violating which duty?
- A Louisiana licensee acting as a dual agent must:
- A listing broker has a fiduciary duty to the seller that includes:
- A Louisiana licensee acting as a dual agent represents:
- A real estate agent who has material information about a property must disclose it to prospective buyers. This duty arises from:
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